FIRST
AMENDMENT

TO

LOAN AND SECURITY AGREEMENT


 


This FIRST Amendment to
Loan and Security Agreement is entered into as of March 22, 2018 (the “Amendment”), by and between HERITAGE
BANK OF COMMERCE (“Bank”), and PRECISION OPINION, INC. (“Borrower”).


 


RECITALS


 


Borrower
and Bank are parties to that certain Loan and Security Agreement dated as of September 13, 2017, as amended from time to time
(the “Agreement”). The parties desire to amend the Agreement in accordance with the terms of this Amendment.


 


NOW,
THEREFORE, the parties agree as follows:


 


1. Borrower
acknowledges that there are existing and uncured Events of Default arising from (i) Borrower’s failure to comply with
(i) the Asset Coverage Ratio covenant set forth in Section 6.9(b) of the Agreement for the period ended December 31, 2017 and
January 31, 2018 and (ii) the EBITDA covenant set forth in Section 6.9(a)(ii) of the Agreement for the period ending December
31, 2017 (collectively, the “Existing Defaults”). Subject to the conditions contained herein and performance by
Borrower of all of the terms of the Agreement after the date hereof, Bank waives the Existing Default. Bank does not waive
Borrower’s obligations under such section after the date hereof and as amended herein, and Bank does not waive any
other failure by Borrower to perform its Obligations under the Loan Documents.


 


2. Section
3.2(a) is amended and restated in its entirety to read as follows:


 


(a)
timely receipt by Bank of the Advance Request Form as provided in Section 2.1, along with a Borrowing Base Certificate signed
by a Responsible Officer in substantially the form of Exhibit C hereto;


 


3. Section
2.3(a)(i) of the Agreement is amended and restated in its entirety to read as follows:


 


(i)
Except as set forth in Section 2.3(b), the Advances shall bear interest, on the outstanding Daily Balance thereof, at a rate equal
to four percent (4.0%) above the Prime Rate.


 


4.
The fourth sentence in Section 2.3(d) is amended and restated in its entirety to read as follows:


 


Within
two Business Days after clearance of any checks, Bank shall credit any amounts paid into the Bancontrol Account first against
any amounts outstanding under the Revolving Facility, and then any remaining balance of such amount shall be credited to Borrower’s
operating account.


 




    	 



    	 



    

 


5. The
following is added as a new subsection (j) to the end of Section 6.3:


 


(j)
Borrower shall provide to Bank a rolling twelve (12) week cash flow forecast on the Monday of each week.


 


6. Section
6.9(a) of the Agreement is amended and restated in its entirety to read as follows:


 


(a)
Performance to Plan – EBITDA. Measured on the last day of each quarter, Borrower’s trailing three (3) month EBITDA
shall not negatively deviate by more than 25% from Borrower’s projected EBITDA for such period as set forth in Borrower’s
Financial Plan, which for 2018 is attached hereto as Exhibit E and set forth below.


 


	Period Ending	 	Projected trailing 3 month EBITDA	 	Minimum Required

 trailing 3 month EBITDA
	March 31, 2018	 	$	282,399	 	 	$	211,799	 
	June 30, 2018	 	$	1,088,871	 	 	$	816,653	 
	September 30, 2018	 	$	668,853	 	 	$	501,640	 
	December 31, 2018	 	$	729,399	 	 	$	547,049	 



 


7. Section
6.9(b) of the Agreement is amended and restated in its entirety to read as follows:


 


(b)
Asset Coverage Ratio. Borrower shall maintain a minimum ratio of (i) unrestricted cash maintained at Bank plus Eligible Accounts
plus Eligible Unbilled Accounts to (ii) all Obligations owing to Bank of at least 1.25 to 1.00, measured on the last day of each
month.


 


8. Exhibit
D to the Agreement is replaced in its entirety with the Exhibit D attached hereto.


 


9. Exhibit
E to the Agreement is replaced in its entirety with the Exhibit E attached hereto.


 


10. On the date
hereof Bank has earned a waiver and amendment fee in the amount of $15,000 (the “Waiver Fee”), which Bank has agreed
can be paid in two installments, fifty percent (50%) of the Waiver Fee shall be paid on the date hereof, and the remaining fifty
percent (50%) shall be paid on the earlier of the date all Credit Extensions are due and payable or are repaid or the thirtieth
(30th) day after the date hereof. Failure to timely pay the Waiver Fee shall constitute an Event of Default to which
no cure period automatically applies.


 


11. Borrower
represents and warrants that the representations and warranties contained in the Agreement are true and correct as of the date
of this Amendment, and that except as set forth above, no Event of Default has occurred and is continuing.


 


12. Unless
otherwise defined, all initially capitalized terms in this Amendment shall be as defined in the Agreement. The Agreement, as amended
hereby, shall be and remain in full force and effect in accordance with its respective terms and hereby is ratified and confirmed
in all respects. Except as expressly set forth herein, the execution, delivery, and performance of this Amendment shall not operate
as a waiver of, or as an amendment of, any right, power, or remedy of Bank under the Agreement, as in effect prior to the date
hereof. Borrower ratifies and reaffirms the continuing effectiveness of all agreements entered into in connection with the Agreement.







 




    	2



    	 



    

 


13.
This Amendment may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together
shall constitute one instrument. In the event that any signature is delivered by facsimile transmission or by e-mail delivery
of a “.pdf” format data file, such signature shall create a valid and binding obligation of the party executing (or
on whose behalf such signature is executed) with the same force and effect as if such facsimile or “.pdf” signature
page were an original hereof. Notwithstanding the foregoing, Borrower shall deliver all original signed documents no later than
ten (10) Business Days following the date of execution.


 


14.
As a condition to the effectiveness of this Amendment, Bank shall have received, in form and substance satisfactory to Bank,
the following:


 


(a) this
Amendment, duly executed by Borrower;


 


(b) affirmation
and amendment to Subordination Agreement executed by Michael France and Guthrie Rebel;


 


(c) unconditional
guaranty executed by James T. Medick;


 


(d) subordination
agreement executed by James T. Medick;


 


(e) a
waiver and amendment fee equal to $15,000, plus an amount equal to all Bank Expenses incurred through the date of this
Amendment; and


 


(f) such
other documents, and completion of such other matters, as Bank may reasonably deem necessary or appropriate.


 


[signature
page follows]


 




    	3



    	 



    

 


IN
WITNESS WHEREOF, the undersigned have executed this Amendment as of the first date above written.


 


 


	 	PRECISION
    OPINION, INC.
	 	 	 
	 	By:
    	 /s/
    James T. Medick 
	 	Name:
    	 James
    T. Medick 
	 	Title:	 President 
	 	 	 
	 	HERITAGE
    BANK OF COMMERCE
	 	 	 
	 	By:
    	 /s/
    Karla     Schrader 
	 	Name:
    	Karla Schrader        




	 	Title:
    	

 Vice President 









 






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Exhibit
D


 


Compliance Certificate


 


	TO:	HERITAGE
    BANK OF COMMERCE
	 	 
	FROM:	PRECISION
    OPINION, INC.


 


The
undersigned authorized officer of Precision Opinion, Inc. hereby certifies that in accordance with the terms and conditions of
the Loan and Security Agreement between Borrower and Bank (the “Agreement”), (i) Borrower is in complete compliance
for the period ending _______________ with all required covenants except as noted below and (ii) all representations and warranties
of Borrower stated in the Agreement are true and correct as of the date hereof. Attached herewith are the required documents supporting
the above certification. The Officer further certifies that these are prepared in accordance with Generally Accepted Accounting
Principles (GAAP) and are consistently applied from one period to the next except as explained in an accompanying letter or footnotes.


 


Please
indicate compliance status by circling Yes/No under “Complies” column.


 


	Reporting
    Covenant	 	Required	 	Complies
	 	 	 	 	 	 
	Rolling
    12 week cash flow forecast	 	Weekly
    on Monday	 	yes	 
	Borrowing
    Base Certificate 	 	Monthly
    within 15 days	 	Yes	No
	Inventory
    listing	 	Monthly
    within 15 days	 	Yes	No
	A/R
    & A/P Agings 	 	Monthly
    within 15 days	 	Yes	No
	Sales
    journal	 	Monthly
    within 15 days	 	Yes	No
	Collections
    journal	 	Monthly
    within 15 days	 	Yes	No
	Deferred
    revenue listing (if applicable)	 	Monthly
    within 15 days	 	Yes	No
	Monthly
    financial statements	 	Monthly
    within 30 days	 	Yes	No
	Compliance
    Certificate	 	Monthly
    within 30 days	 	Yes	No
	Annual
    financial statements (CPA Audited) 	 	Annually
    within 150 days of FYE	 	Yes	No
	Tax
    returns with Schedules (CPA Prepared)	 	Annually
    within 15 days of filing	 	Yes	No
	Annual
    operating projections approved by board of directors	 	Annually
    by January 31 of each year	 	Yes	No
	10K
    and 10Q	 	(as
    applicable)	 	Yes	No
	A/R
    and Collateral Audit	 	Initial
    and semi-annually	 	Yes	No
	IP
    Notices	 	As
    required under Section 6.10	 	Yes	No


 


	Financial
    Covenant	 	Required	 	Actual	 	Complies
	 	 	 	 	 	 	 	 
	Trailing
    3 month EBITDA – quarterly 	 	Negative
    deviation ≤ 25% from Financial Plan	 	$_________%
	 	Yes	No
	Minimum
    Asset Coverage Ratio – monthly 	 	1.25
    : 1.00	 	____
    : 1.00	 	Yes	No


 


	Comments
    Regarding Exceptions: See Attached.	 	BANK USE ONLY
	 	 	 	 
	 	 	Received
    by: 	 
	Sincerely,	 	 	AUTHORIZED
    SIGNER
	 	 	 	 
	 	 	Date:
    	 
	 	 	 	 
	 	 	Verified:
    	 
	SIGNATURE	 	 	AUTHORIZED
    SIGNER
	 	 	 	 
	 	 	 	 
	 	 	Date:
	 
	TITLE	 	 	 
	 	 	Compliance
    Status		                      Yes                                 No
	 	 	 	 
	DATE	 	 	 


 




    	2



    	 



    

 


EXHIBIT
E


 


	 	 	2018
    Forecast - Precision Opinion	 
	 	 	Jan	 	 	Feb	 	 	Mar	 	 	Apr	 	 	May	 	 	June	 	 	July	 	 	Aug	 	 	Sept	 	 	Oct	 	 	Nov	 	 	Dec	 	 	Full
    Year	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Total Revenue	 	$	864,613	 	 	$	867,925	 	 	$	1,192,325	 	 	$	2,168,887	 	 	$	1,857,468	 	 	$	1,624,430	 	 	$	1,489,325	 	 	$	1,489,325	 	 	$	1,689,325	 	 	$	1,769,058	 	 	$	1,444,058	 	 	$	1,344,058	 	 	$	17,800,797	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Total Direct Costs	 	$	474,014	 	 	$	494,835	 	 	$	688,920	 	 	$	1,347,854	 	 	$	1,172,006	 	 	$	948,756	 	 	$	879,047	 	 	$	932,243	 	 	$	1,062,408	 	 	$	1,106,117	 	 	$	842,515	 	 	$	774,718	 	 	$	10,723,433	 
	Gross Margin	 	$	390,599	 	 	$	373,090	 	 	$	503,405	 	 	$	821,034	 	 	$	685,461	 	 	$	675,673	 	 	$	610,278	 	 	$	557,082	 	 	$	626,917	 	 	$	662,941	 	 	$	601,543	 	 	$	569,340	 	 	$	7,077,364	 
	 	 	 	45.2	%	 	 	43.0	%	 	 	42.2	%	 	 	37.9	%	 	 	36.9	%	 	 	41.6	%	 	 	41.0	%	 	 	37.4	%	 	 	37.1	%	 	 	37.5	%	 	 	41.7	%	 	 	42.4	%	 	 	39.8	%
	Overhead Expense	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Las Vegas Rent	 	$	37,966	 	 	$	38,000	 	 	$	38,000	 	 	$	32,900	 	 	$	32,900	 	 	$	38,000	 	 	$	38,000	 	 	$	38,000	 	 	$	38,000	 	 	$	38,000	 	 	$	38,000	 	 	$	38,000	 	 	$	445,766	 
	Storage	 	$	1,622	 	 	$	2,573	 	 	$	2,573	 	 	$	2,573	 	 	$	-	 	 	$	-	 	 	$	-	 	 	$	-	 	 	$	-	 	 	$	-	 	 	$	-	 	 	$	-	 	 	$	9,341	 
	Utilities	 	$	5,000	 	 	$	5,000	 	 	$	5,000	 	 	$	5,000	 	 	$	10,000	 	 	$	10,000	 	 	$	10,000	 	 	$	10,000	 	 	$	10,000	 	 	$	10,000	 	 	$	5,000	 	 	$	5,000	 	 	$	90,000	 
	Repairs/Maintenance	 	$	7,387	 	 	$	2,500	 	 	$	3,500	 	 	$	4,500	 	 	$	7,500	 	 	$	15,000	 	 	$	15,000	 	 	$	15,000	 	 	$	5,000	 	 	$	5,000	 	 	$	5,000	 	 	$	5,000	 	 	$	90,387	 
	Equipment Rentals	 	$	994	 	 	$	994	 	 	$	994	 	 	$	994	 	 	$	994	 	 	$	994	 	 	$	994	 	 	$	994	 	 	$	994	 	 	$	994	 	 	$	994	 	 	$	994	 	 	$	11,925	 
	Travel & Entertainment	 	$	4,344	 	 	$	8,500	 	 	$	8,500	 	 	$	8,500	 	 	$	8,500	 	 	$	8,500	 	 	$	8,500	 	 	$	8,500	 	 	$	8,500	 	 	$	8,500	 	 	$	8,500	 	 	$	8,500	 	 	$	97,844	 
	Auto/Bus Expense	 	$	3,275	 	 	$	2,300	 	 	$	2,300	 	 	$	2,300	 	 	$	2,300	 	 	$	2,300	 	 	$	2,300	 	 	$	2,300	 	 	$	2,300	 	 	$	2,300	 	 	$	2,300	 	 	$	2,300	 	 	$	28,575	 
	Professional Development	 	$	45	 	 	$	-	 	 	$	-	 	 	$	5,000	 	 	$	5,000	 	 	$	5,000	 	 	$	5,000	 	 	$	5,000	 	 	$	5,000	 	 	$	5,000	 	 	$	5,000	 	 	$	5,000	 	 	$	45,045	 
	Payroll Processing	 	$	3,545	 	 	$	4,500	 	 	$	4,500	 	 	$	4,500	 	 	$	4,500	 	 	$	4,500	 	 	$	4,500	 	 	$	4,500	 	 	$	4,500	 	 	$	4,500	 	 	$	4,500	 	 	$	4,500	 	 	$	53,045	 
	Medical/Dental Insurance	 	$	14,820	 	 	$	14,750	 	 	$	17,500	 	 	$	17,500	 	 	$	17,500	 	 	$	19,000	 	 	$	19,000	 	 	$	19,000	 	 	$	19,000	 	 	$	19,000	 	 	$	19,000	 	 	$	19,000	 	 	$	215,070	 
	Liab. Insurance/Workers Comp	 	$	11,181	 	 	$	4,000	 	 	$	6,000	 	 	$	6,000	 	 	$	6,000	 	 	$	6,000	 	 	$	6,000	 	 	$	6,000	 	 	$	6,000	 	 	$	6,000	 	 	$	6,000	 	 	$	6,000	 	 	$	75,181	 
	Insurance	 	$	6,917	 	 	$	6,917	 	 	$	6,917	 	 	$	6,917	 	 	$	6,917	 	 	$	6,917	 	 	$	6,917	 	 	$	6,917	 	 	$	6,917	 	 	$	6,917	 	 	$	6,917	 	 	$	6,917	 	 	$	83,009	 
	Contrbutions	 	$	1,000	 	 	$	1,000	 	 	$	1,000	 	 	$	1,000	 	 	$	1,000	 	 	$	1,000	 	 	$	1,000	 	 	$	1,000	 	 	$	1,000	 	 	$	1,000	 	 	$	1,000	 	 	$	1,000	 	 	$	12,000	 
	Legal Fees	 	$	2,654	 	 	$	6,500	 	 	$	3,500	 	 	$	5,000	 	 	$	5,000	 	 	$	5,000	 	 	$	5,000	 	 	$	5,000	 	 	$	5,000	 	 	$	5,000	 	 	$	5,000	 	 	$	5,000	 	 	$	57,654	 
	Accounting/Professional	 	$	-	 	 	$	3,500	 	 	$	3,500	 	 	$	3,500	 	 	$	3,500	 	 	$	3,500	 	 	$	3,500	 	 	$	3,500	 	 	$	3,500	 	 	$	3,500	 	 	$	3,500	 	 	$	3,500	 	 	$	38,500	 
	Consulting	 	$	6,000	 	 	$	6,000	 	 	$	6,000	 	 	$	6,000	 	 	$	6,000	 	 	$	6,000	 	 	$	6,000	 	 	$	6,000	 	 	$	6,000	 	 	$	6,000	 	 	$	6,000	 	 	$	6,000	 	 	$	72,000	 
	Advertising/Promotion	 	$	613	 	 	$	2,750	 	 	$	5,000	 	 	$	5,000	 	 	$	7,500	 	 	$	7,500	 	 	$	7,500	 	 	$	7,500	 	 	$	7,500	 	 	$	7,500	 	 	$	7,500	 	 	$	7,500	 	 	$	73,363	 
	Subscriptions/Dues	 	$	1,769	 	 	$	2,500	 	 	$	2,500	 	 	$	2,500	 	 	$	2,500	 	 	$	2,500	 	 	$	2,500	 	 	$	2,500	 	 	$	2,500	 	 	$	2,500	 	 	$	2,500	 	 	$	2,500	 	 	$	29,269	 
	Employee Recruiting	 	$	750	 	 	$	1,000	 	 	$	1,000	 	 	$	1,000	 	 	$	1,000	 	 	$	1,000	 	 	$	1,000	 	 	$	1,000	 	 	$	1,000	 	 	$	1,000	 	 	$	1,000	 	 	$	1,000	 	 	$	11,750	 
	Office Supplies	 	$	5,279	 	 	$	5,500	 	 	$	5,500	 	 	$	5,500	 	 	$	5,500	 	 	$	5,500	 	 	$	5,500	 	 	$	5,500	 	 	$	5,500	 	 	$	5,500	 	 	$	5,500	 	 	$	5,500	 	 	$	65,779	 
	Posatage/Shipping	 	$	2,124	 	 	$	1,500	 	 	$	1,500	 	 	$	1,500	 	 	$	1,500	 	 	$	1,500	 	 	$	1,500	 	 	$	1,500	 	 	$	1,500	 	 	$	1,500	 	 	$	1,500	 	 	$	1,500	 	 	$	18,624	 
	Bank Serve Charges	 	$	720	 	 	$	1,200	 	 	$	1,200	 	 	$	1,200	 	 	$	1,200	 	 	$	1,200	 	 	$	1,200	 	 	$	1,200	 	 	$	1,200	 	 	$	1,200	 	 	$	1,200	 	 	$	1,200	 	 	$	13,920	 
	Nevada Modified Business Tax	 	$	10,000	 	 	$	10,000	 	 	$	10,000	 	 	$	10,000	 	 	$	10,000	 	 	$	10,000	 	 	$	12,000	 	 	$	12,000	 	 	$	12,000	 	 	$	15,000	 	 	$	15,000	 	 	$	15,000	 	 	$	141,000	 
	Depreciation	 	$	29,113	 	 	$	29,113	 	 	$	29,113	 	 	$	29,113	 	 	$	29,113	 	 	$	29,113	 	 	$	29,113	 	 	$	29,113	 	 	$	29,113	 	 	$	29,113	 	 	$	29,113	 	 	$	29,113	 	 	$	349,357	 
	Amortization	 	$	41,608	 	 	$	41,608	 	 	$	41,608	 	 	$	41,608	 	 	$	41,608	 	 	$	41,608	 	 	$	41,608	 	 	$	41,608	 	 	$	41,608	 	 	$	41,608	 	 	$	41,608	 	 	$	41,608	 	 	$	499,295	 
	Interest Expense	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Heritage Bank Line	 	$	13,033	 	 	$	8,000	 	 	$	8,500	 	 	$	8,500	 	 	$	8,500	 	 	$	8,500	 	 	$	8,500	 	 	$	8,500	 	 	$	8,500	 	 	$	8,500	 	 	$	8,500	 	 	$	8,500	 	 	$	106,033	 
	Super G Term	 	$	43,561	 	 	$	43,561	 	 	$	43,561	 	 	$	36,450	 	 	$	33,906	 	 	$	31,271	 	 	$	28,539	 	 	$	25,708	 	 	$	22,776	 	 	$	19,735	 	 	$	16,586	 	 	$	13,323	 	 	$	358,978	 
	Shareholder Notes	 	$	8,333	 	 	$	8,333	 	 	$	8,333	 	 	$	8,333	 	 	$	8,333	 	 	$	8,333	 	 	$	8,333	 	 	$	8,333	 	 	$	8,333	 	 	$	8,333	 	 	$	8,333	 	 	$	8,333	 	 	$	100,000	 
	 	 	$	263,652	 	 	$	262,100	 	 	$	267,600	 	 	$	262,888	 	 	$	268,271	 	 	$	279,736	 	 	$	279,004	 	 	$	276,173	 	 	$	263,241	 	 	$	263,200	 	 	$	255,051	 	 	$	251,788	 	 	$	3,192,708	 
	 	 	 	30.5	%	 	 	30.2	%	 	 	22.4	%	 	 	12.1	%	 	 	14.4	%	 	 	17.2	%	 	 	18.7	%	 	 	18.5	%	 	 	15.6	%	 	 	14.9	%	 	 	17.7	%	 	 	18.7	%	 	 	17.9	%
	Overhead Salaries	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Management	 	$	164,519	 	 	$	185,967	 	 	$	185,967	 	 	$	195,967	 	 	$	195,967	 	 	$	195,967	 	 	$	195,967	 	 	$	195,967	 	 	$	195,967	 	 	$	195,967	 	 	$	195,967	 	 	$	195,967	 	 	$	2,300,156	 
	Payroll Taxes	 	$	15,077	 	 	$	18,597	 	 	$	18,597	 	 	$	19,597	 	 	$	19,597	 	 	$	19,597	 	 	$	19,597	 	 	$	19,597	 	 	$	19,597	 	 	$	19,597	 	 	$	19,597	 	 	$	19,597	 	 	$	228,641	 
	 	 	$	179,596	 	 	$	204,564	 	 	$	204,564	 	 	$	215,564	 	 	$	215,564	 	 	$	215,564	 	 	$	215,564	 	 	$	215,564	 	 	$	215,564	 	 	$	215,564	 	 	$	215,564	 	 	$	215,564	 	 	$	2,528,797	 
	Total Overhead Expense	 	$	443,248	 	 	$	466,664	 	 	$	472,164	 	 	$	478,452	 	 	$	483,835	 	 	$	495,300	 	 	$	494,568	 	 	$	491,737	 	 	$	478,805	 	 	$	478,764	 	 	$	470,615	 	 	$	467,352	 	 	$	5,721,505	 
	Operating Income	 	$	(52,649	)	 	$	(93,573	)	 	$	31,241	 	 	$	342,581	 	 	$	201,626	 	 	$	180,373	 	 	$	115,710	 	 	$	65,345	 	 	$	148,112	 	 	$	184,177	 	 	$	130,928	 	 	$	101,988	 	 	$	1,355,859	 
	 	 	 	-6.1	%	 	 	-10.8	%	 	 	2.6	%	 	 	15.8	%	 	 	10.9	%	 	 	11.1	%	 	 	7.8	%	 	 	4.4	%	 	 	8.8	%	 	 	10.4	%	 	 	9.1	%	 	 	7.6	%	 	 	7.6	%
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	EBITDA	 	$	83,000	 	 	$	37,042	 	 	$	162,357	 	 	$	466,586	 	 	$	323,087	 	 	$	299,199	 	 	$	231,803	 	 	$	178,607	 	 	$	258,442	 	 	$	291,466	 	 	$	235,068	 	 	$	202,865	 	 	$	2,769,522	 
	 	 	 	9.6	%	 	 	4.3	%	 	 	13.6	%	 	 	21.5	%	 	 	17.4	%	 	 	18.4	%	 	 	15.6	%	 	 	12.0	%	 	 	15.3	%	 	 	16.5	%	 	 	16.3	%	 	 	15.1	%	 	 	15.6	%
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	T3M EBITDA	 	 	 	 	 	 	 	 	 	$	282,399	 	 	 	 	 	 	 	 	 	 	$	1,088,871	 	 	 	 	 	 	 	 	 	 	$	668,853	 	 	 	 	 	 	 	 	 	 	$	729,399	 	 	 	 	 
	Required 75%	 	 	 	 	 	 	 	 	 	$	211,799	 	 	 	 	 	 	 	 	 	 	$	816,653	 	 	 	 	 	 	 	 	 	 	$	501,640	 	 	 	 	 	 	 	 	 	 	$	547,049	 	 	 	 	 
	Allowable Variance	 	 	 	 	 	 	 	 	 	$	70,600	 	 	 	 	 	 	 	 	 	 	$	272,218	 	 	 	 	 	 	 	 	 	 	$	167,213	 	 	 	 	 	 	 	 	 	 	$	182,350